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Updated almost 7 years ago on . Most recent reply

Joseph Illing's profile image
Joseph Illing's profile image
Joseph Illing
  • from Phoenix, AZ
  • Member since Mar 6, 2018
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Joseph Illing's profile image
Joseph Illing's profile image
Joseph Illing
  • from Phoenix, AZ
  • Member since Mar 6, 2018
Connect
Joseph Illing
  • Phoenix, AZ
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1031 Exchanges

1031 exchange of rental house for purchase of condo

Joseph Illing
  • Phoenix, AZ
Posted

I have a rental home I used to occupy from 2004-2008. It has remained a rental from 2008 until now. I am planning on selling that house using the equity to purchase my mothers condo. It won't cover the entire purchase of the condo so I will take out a 15 year loan for the remainder. Is this purchase a legitimate 1031 exchange? 

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